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Both Peter Cammarata and Dave Stebbins, longtime partners and leaders of Buffalo Urban Development Corporation (BUDC) have headed into retirement. We often say that economic development is a team sport, and Peter and Dave were two of the best teammates we could have ever had.
“These are strong contenders for success in this community, and the reason they floated to the top was their commitment to Buffalo,” Heidinger said.
“Western New York is home to innovative manufacturing companies that have strategically diversified in order to grow,” said Empire State Development Acting Commissioner and President & CEO-Designate Eric Gertler. “Eastman Machine is a great example of a global business with Buffalo roots.
“Buffalo Niagara has already made strides in successfully raising the region’s public profile within the national and global real estate scene,” said Thomas Kucharski, president and CEO of Invest Buffalo Niagara. “Given that we are on the radar, now it is time to band together in an even more unified fashion to bring additional inventory online in a smart and rapid manner.”
“The main objective of this initiative has been to better understand the industrial real estate assets of our region, the existing availability and quality of sites, the development pipeline, and how it all positions us in comparison to competing markets,” said Thomas Kucharski, president and chief executive officer of Invest Buffalo Niagara.
“I look forward to furthering the incredible groundwork that has been laid through Pete Cammarata’s tenure at BUDC and infusing new innovations that will reflect Buffalo’s diversity and carry our city into the future,” Merriweather said.
The IPO also gives investors a hefty profit – at least on paper – and an efficient way to cash out by selling shares. That leaves them with lots of money – money that they can use to invest in other businesses if they choose.
“They’re basically going to look for new places to invest their money, so they can do it again and again and again,” Colligan said. “We’re going to see that in Buffalo. We’re definitely going to see that money recycled.”
The Buffalo, New York-based company, which provides an online marketplace for auctioning used cars, had marketed shares at $20 to $22 each, a range that it earlier elevated from $18 to $20.
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